Oil rallies over 3% on strong equities, weak dollar
Published: 17/11/2009 05:00
| Crude prices surged more than 3 percent on Monday, rallying on the fact that major averages on the equities market touched a new 2009 high.
The U.S. stocks rose, with the Dow Jones Industrial Average surpassing 10,400 during the session, as retail sales rebounded more than expected in October, giving oil an obvious boost. Meanwhile, the dollar fell against a basket of currencies, helping extend gains in commodities. In London, Brent Crude for January delivery gained 2.45 dollars to settle at 78.76 dollars a barrel on the ICE Futures exchange. VietNamNet/Xinhuanet |
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